When it comes to the IPO valuations of companies in the innovative space, public markets aren’t buying what late-stage venture capitalists and investment bankers are selling. Roughly a third of the companies that went public through IPOs during the past four years are trading below their previous private valuations as of March 2022. In ARK Invest’s weekly newsletter “ARK Disrupt,” analyst Maximilian Friedrich suggests that this means that “public market investors are rejecting the late-stage and IPO valuations set by venture capitalists and investment bankers.” READ MORE